Leading Global Mining Executive Peter Oliver to Join the NioCorp Board

Former Managing Director and CEO of Talison Lithium Brings Decades of Experience in Resource Development, Critical Minerals Processing, Mergers & Acquisitions, and Project Financing

CENTENNIAL, May 25, 2022 - NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX: NB) (OTCQX: NIOBF) is pleased to announce that Peter Oliver, the former Managing Director of Talison Lithium ("Talison") and a 30+ year veteran of the mining and critical minerals processing industries, will join NioCorp's Board of Directors.

"On behalf of the NioCorp Board, let me say that we are all thrilled to have Peter join the NioCorp organization," said Mark A. Smith, CEO and Executive Chairman of NioCorp. "Peter is an exceptionally successful leader in the global mining business, and his experience spans the entire spectrum of resource development, operations and process optimization, public company management, global M&A, and project financing. Peter will be a highly valuable addition to the NioCorp enterprise."

"A fundamental shift is occurring across the globe as nations move much more aggressively toward lower-carbon economies and the technologies that enable this transition," said Mr. Oliver. "This has put into sharp focus the necessity of securing adequate supplies of the critical metals needed for such a historic transformation. In my view, NioCorp is positioned to take advantage of this shift once project financing is secured and the project begins commercial operation. For me, this is a wonderful opportunity to join NioCorp's Board and assist the Company in many aspects of moving this project to commercial operation."

With a background in chemistry, Mr. Oliver served for 18 years at Talison Lithium, including 12 years as CEO/Managing Director and then as Non-Executive Director. Prior to that, Mr. Oliver was General Manager of Talison's Greenbushes and Wodgina Mines and served as Talison's Chief Operating Officer.

Mr. Oliver guided Talison through its acquisition in 2013 by Tianqi Lithium ("Tianqi"), which was valued at approximately 1 billion CAD. He then served as a corporate adviser to Tianqi, focusing on M&A opportunities and global expansion, including advising on the sale of 49% of Talison Lithium and the acquisition of 24% of SQM, valued in excess of 4 billion USD, as well as significant expansions of Talison Lithium's Greenbushes lithium concentrate production.

Mr Oliver also was the founding director of Tianqi Lithium Australia, a wholly owned subsidiary of Tianqi Lithium, which was established to build a major Lithium Hydroxide manufacturing facility in Western Australia. Until June 2021, Mr Oliver remained as a director of Talison Lithium, a joint venture between Tianqi Lithium and Albemarle Corp.

Prior to his work at Talison, Mr. Oliver worked in Rio Tinto's Salt and Iron Ore divisions. He obtained his Bachelor of Applied Science in Chemistry from Curtin University (Western Australia). He resides in Perth, Australia.

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For More Information

Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., +1 (303) 503-6203, jim.sims@niocorp.com

About NioCorp

NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce niobium, scandium, and itanium. The Company also is evaluating the potential to produce several rare earths from the Project. Niobium is used to produce superalloys as well as High Strength, Low Alloy ("HSLA") steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of Neodymium-Iron-Boron ("NdFeB") magnets, which are used across a wide variety of defense and civilian applications.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this document may constitute forward-looking statements, including but not limited to statements regarding Mr. Oliver's prior professional experience and his expected contributions to NioCorp as a member of the Board. Such forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate in the circumstances. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause a change in such forward-looking statements and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements, or position expressed or implied by those forward-looking statements. Risks, uncertainties, and other factors that could cause NioCorp's plans or prospects to change include risks related to NioCorp's ability to operate as a going concern; risks related to NioCorp's requirement of significant additional capital; risks related to feasibility study results; changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns, and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining, or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; the risks involved in the exploration, development, and mining business, and the risks set forth in the Company's filings with Canadian securities regulators at www.sedar.com and the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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SOURCE NioCorp Developments Ltd.